This is a really great business for stay at home moms. But many wonder where and how do you get started. There are several different methods that you can try, when trying to figure out how to price your baskets. If you are buying wholesale from a non-local supplier, you will want to make sure that you include the shipping costs in your basket price. The key is to price your gift baskets so that you can make a profit.
If you do not price your product right, then you will not do very well in this business. Remember that to make money you must charge more for your designs than you pay for your inventory. Many basket makers double their wholesale costs and add 25% for labor. Yet others triple or quadruple their costs. When first starting out you will want to keep things pretty simple by charging the retail prices listed in your catalogs and on your websites, and add a small percentage for your time. Also consider giving multiple discounts if someone is purchasing more than one gift box at any given time.
If you are asked to do a customized gift for someone ask them what price range they are working with and then use products that fit their range. There are plenty of on-line resources at your disposal that can prove to be very useful. Many people who are in this type of business use a drop-ship company. The one thing that you will definitely need is a website to advertise your business and sell your products. Don’t think that you will start making money overnight is takes time for any business to really start making a profit. There are also several websites that offer themed boxes. One is www.ourfamilyfavorites.com. Another website where you can buy items such as coffee at a wholesale price is www.imperial-foods.com. If you want to make a good profit everything that you buy should be in bulk.
Make sure that you pick your target market. You will need to decide if you are going to sell locally or are you looking for nationwide sales or even international. You may also want to think about becoming a consultant for a company that sell some of the items you want to include in your baskets. You will be able to get a discount on some or all of your items, and earn commissions. Also make sure you check the laws in your state on selling certain types of items, especially if you are going to include food in your baskets. Keep in mind however that most of these companies do require you to pay a start-up fee. However if you do some research you will be able to find a few companies that do not charge a fee. But be careful, and make sure their are no hidden catches. Also think ab out creating a small catalog, this is a great way to advertise your business as well. When you ship someone an item you could include this in the box.
It may also be a good idea to take a few basket making lessons. There are video lessons that you could try, check your local library they are sure to have a few. You could also take a few lessons at some of the craft stores such as Michael’s. Check at the craft stores in your area and see if they offer lessons on making gift baskets. They fee for the classes is very cheap and sometimes free. You may also want to try doing a free on-line search you should be able to find information on gift basket making, and even a few tutorials free. The key to any business is to take your time and do all of your homework before you begin. Also make sure your expectations are not too high for someone just starting out.